On the cover: Franshelyne Torres is a senior pre-med major from Cranston, Rhode Island. She works for the URI Student Phonathon, and is a founding member of a new professional pre-health studies fraternity at URI, Delta Epsilon Mu.
Contents: Message from the University President y 2 Message from the Foundation Leadership y 3 Combating terrorism with science y 4, 5 Art, appreciated y 6, 7 Taking on Alzheimer’s y 8, 9 A world-class hub for global media y 10, 11 Fishing for the future y 12, 13 Synthetic cadavers at URI y 14, 15 Christening the fleet y 16, 17 Learning through immersion y 18, 19 A new Academic Health Collaborative y 20, 21 Supplying success y 22, 23 News Briefs y 24–27 President’s Circle y 28, 29 Board of Directors y 30 Foundation Trustees y 31 The URI Endowment y 32, 33 Fundraising Report y 34 Financial Report y 35 Ways to Give y 36
ANNUAL REPORT FY 2016 y
z MESSAGE FROM THE UNIVERSITY PRESIDENT
Dear Friends, The University of Rhode Island is at a unique and exciting point in its history. As we celebrate in 2017, the 125th anniversary of URI’s founding in 1892, we look forward to sharing with you our progress and the opportunities ahead of us. The growth of the institution has been remarkable. The research, scholarship and innovation at the heart of this University are constantly evolving to meet the demands of a global economy. Whether here in our home state or in some distant land, we seek answers to some of the world’s biggest problems. As the scale and scope of this work has changed over time, I expect we will see over the next decade more dramatic challenges, and our capacity to keep up will be even more vital. Our unique role, as the state’s land- and sea-grant university, will be increasingly valued, and our impact significantly more tangible. Our committed faculty and talented students will continue to be the catalysts to discovery. They are engaged and committed to excellence whether in oceanographic research, engineering, neuroscience, President David Dooley during his visit to Ghana last May, communication media, the fine arts, or any number of disciplines, including those you’ll to help expand the reach, globalization, and impact of URI. read about in these pages. This year’s URI Foundation annual report captures some of the University’s best moments from last year. These milestones represent our movement upward, as our aspirations continue to drive us to achieve greater success. These achievements were supported — either directly or indirectly — by your philanthropic support of the University. The future holds great opportunity and extraordinary promise, and we invite you to join us in realizing the University of Rhode Island’s role in shaping the world. Sincerely,
y THE URI FOUNDATION
David M. Dooley, Ph.D. President, University of Rhode Island
z MESSAGE FROM THE FOUNDATION LEADERSHIP
Friends, The stories included in this annual report stand as proof of the remarkable aspirations of our talented students and faculty members who work to make a difference in the world around them. This University is an exciting place and one that is moving ever-upward. We look forward to engaging more URI alumni and friends who share our belief in the University and who can become our ambassadors and supporters. We’ve got a great story to tell. Amazing discoveries are happening, from the bottom of the ocean to deep inside the human brain. Creativity continues to abound across our campuses and URI researchers are helping to combat international terrorism. For the Foundation, there is work to be done as we strive to secure support for URI and manage its invested assets. Volatility in global financial markets during the fiscal year created challenges for endowed investments in almost every sector, and we were no exception. Our Board and our Investment Committee are committed to enhancing the management of URI’s endowment to maximize returns and to increase its impact on the University. We look forward to progress on this front moving forward. Your support has helped make great things possible. We truly value your involvement and dedication to URI. We share the content within these pages to showcase to you, the impact our University is having on the world stage, and how your gifts really do play a part in supporting nearly every program area at URI. And, we extend to you, our sincere gratitude for your commitment to the University of Rhode Island.
Lil O’Rourke was named president of the Foundation last spring, and former chairman and CEO of CVS Health Tom Ryan was elected chairman of the Foundation Board of Directors this past September.
Elizabeth Breul O’Rourke President, URI Foundation
Thomas M. Ryan ’75 Chairman of the Board, URI Foundation ANNUAL REPORT FY 2016 y
Supporting innovation Future chemical engineer Ryan Buck, a URI sophomore, has had the good fortune to study under Professor Gregory. Although he readily admits that some of his most difficult classes have been those taught by Gregory, he says he’s been inspired by what his professor brings to the classroom. “We’re all aware of the amazing work he has done in the field. I mean, he’s practically famous — he’s a genius. But his ability to engage with us and share his knowledge is also impressive. He’s able to demonstrate how much he knows with real-world examples and in a way that relates directly to what we are learning in class,” says Buck. A New Hampshire native, Buck is minoring in leadership studies and serves on the URI Student Senate. The recipient of the Norman H. Borden Memorial Scholarship, he says that receiving this private support has made him work harder, knowing that his success is a priority to donors. “I am forever grateful. I look forward to someday entering the workforce and having the opportunity to make URI proud.” 4
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Combating terrorism with science. URI SENSOR DETECTS EXPLOSIVES USED BY PARIS BOMB SUSPECTS.
RI Professor of Chemical Engineering Otto Gregory (pictured at right) is working to help prevent future terrorist attacks by creating sensors that detect explosives. He’s developed a sensor that detects traces of triacetone triperoxide, or TATP, an explosive commonly used by terrorists, including those responsible for the Paris bombings in the fall of 2015 that claimed 130 lives. The explosive is relatively easy to make with chemicals that can be bought at pharmacies and hardware stores, attracting little attention from authorities. Here’s how Gregory’s sensor works: A catalyst in the sensor causes the TATP molecule to decompose at a specific temperature. The sensor monitors the amount of heat released by the decomposition of the explosive molecule and triggers an alarm. “If someone carrying TATP were to walk by in a relatively confined space, like a subway or an airport, the sensor could detect it,’’ Gregory said. “It works all the time.’’ His sensor can also determine if ammonium nitrate, TNT, and other explosives are present. Gregory is testing to determine the point at which the sensor can’t detect an explosive because it’s been diluted in air. He’s found, so far, that his sensor can detect just one molecule of an explosive in a billion molecules of air. Gregory plans tests of the sensor at the Naval Research Laboratories Explosives Testing facility in Washington, D.C., and then cargo container screenings at the Port of Savannah, Georgia. The sensor would eventually need governmental approvals before it could be widely used. With funding from the U.S. Department of Homeland Security, he’ll continue working to protect people worldwide. “URI professors and students are doing cutting-edge research in the areas of explosive characterization and detection,’’ he says. “We’re trying to make buildings, stadiums, airports and subways safer for travelers. Our research will go a long way in achieving this goal.’’
“We’re trying to make buildings, stadiums, airports and subways safer for travelers. Our research will go a long way in achieving this goal.’’
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“This is the greatest opportunity I’ve had in my life and this was the best place I could have gone to study what I love. Everyone is so passionate about what they do here.”
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Art, appreciated. PRIVATE SUPPORT SPURS STUDENT CREATIVITY AND MOTIVATION.
hen observing the strong imagery, vibrant colors, and personal elements of Julia Lawson’s paintings, people tend to linger. And think. “My main objective is to create something that people can look into over and over and find something new. They can see endless pieces that will capture their interest,” said URI junior and fine arts student Lawson. Lawson’s independent style and talent has made her the recipient of nearly $5,000 through the Jesse M. Simmons Memorial Scholarship in Art, which is awarded to a student who shows promise in painting, her favorite medium. “As an artist, you can often feel confused about where your passion will take you. To find out someone honored me with something as special as this scholarship has changed my perspective. I’ve always been positive but I’m motivated to create more and do more,” said Lawson, who is also a URI Centennial Scholar, having received a $4,000 scholarship in each of the past three years. Despite these accomplishments, the challenge of a blank canvas stays with her so she’s an active observer of the world around her. A self-described surrealist, she’s inspired by the works of masters Salvador Dali and M.C. Escher as well as modernists Alex Grey and Esao Andrews. “Julia is wonderfully talented and very hard working as a dedicated art student,” said URI studio artist Lilla Samson, who has taught Julia. “Her paintings and her drawings show a highly engaged imagination expressed through a passionate love of color.” Lawson’s works have been featured in two student shows in the URI gallery and she’s truly valued her experience at URI. “I’ve loved every single art teacher at URI. This is the greatest opportunity I’ve had in my life and this was the best place I could have gone to study what I love. Everyone is so passionate about what they do here.”
Supporting scholarship The URI Distinguished Visiting International Scholars program brought world-famous art diagnostic expert Maurizio Seracini to campus this spring to talk with students and members of the URI community about the use of technology to examine and preserve art. Seracini, a native of Italy, is a pioneer in the use of multispectral imaging to examine art works. He has studied more than 2,500 works, including Da Vinci’s “Last Supper.” He made international headlines when he participated in the search for Da Vinci’s long-lost artwork, “The Battle of Anghiari.” He was also featured in Dan Brown’s novel, “The Da Vinci Code.” Dozens of students, including fine arts and Italian majors, attended the discussion to learn more about the work of Seracini. Gifts to the URI Annual Fund helped bring this diagnostic pioneer to Kingston for what URI Italian Professor Michelangelo La Luna described as, “an extremely unique opportunity.” ANNUAL REPORT FY 2016 y
Supporting scientific discovery In addition to teaching and mentoring University of Rhode Island students, MindImmune has also committed a $150,000 gift to fund the MindImmune Postdoctoral Fellowship at URI. Its first recipient, Mahsa Chadegani, Ph.D., joined the George & Anne Ryan Institute for Neuroscience on campus this fall, working with Institute faculty to explore the molecular mechanisms underlying Alzheimer’s disease. “Postdoctoral fellows are essential to the scientific enterprise,” says Paula Grammas, Ph.D., executive director of the Ryan Institute. “And when they are supported through a gift they are freer to explore new ideas and paradigms on the cutting edge of science.”
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Taking on Alzheimer’s. UNIQUE PARTNERSHIP SUPPORTS INNOVATION IN BRAIN RESEARCH.
nnovative partnerships and collaborations are our best hope for finding new treatments and cures for the most challenging diseases of our time. Former CVS Health Chairman and Chief Executive Officer Thomas M. Ryan ’75 and his wife Cathy Ryan understand this and made collaboration a central element of the $15 million gift that established the George & Anne Ryan Institute for Neuroscience at the University of Rhode Island. Their commitment has led to a first-of-its-kind partnership between the Institute and bioscience startup MindImmune Therapeutics, Inc. MindImmune was founded by a quartet of scientists — Stevin Zorn, Bob Nelson, Frank Menniti, and Brian Campbell, all formerly at Pfizer — who share an interest in new approaches to targeting Alzheimer’s disease. Their partnership with the Ryan Institute includes office and lab space on the Kingston campus, and as they pursue their work the scientists are teaching and working with students. Being based at URI also keeps this cutting-edge work in Rhode Island, and this opened the way to $500,000 in seed funding from the Slater Technology Fund. “We are excited to be forging a ground-breaking partnership with the Ryan Institute,” said Zorn. “This unique relationship heralds a new era of hope for patients and their families. Hope of finding cures in the laboratory for the world’s most complicated and dangerous neurodegenerative disorders, and translating them into new medicines.” “Investments in research and education are absolutely critical in the search for drugs and therapies to combat these devastating neurological diseases,” said URI President David M. Dooley. “This collaboration will help accelerate the groundbreaking work of the Ryan Institute and advance the goal of Rhode Island becoming a center of excellence and discovery in neurological research.”
â€œInvestments in research and education are absolutely critical in the search for drugs and therapies to combat these devastating neurological diseases.â€?
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Dick Harrington â€™73 at the recent opening of the Harrington Hub, with Harrington Executive Advisory Board member Meredith Vieira.
Faculty and students have a world-class, high-tech facility to learn and train in, with the right mix of flexible spaces and technologies.
y THE URI FOUNDATION
A world-class hub for global media. $6.3 MILLION COMMUNICATION CENTER OPENS WITH FANFARE.
nternet. Social media. Blogs. Just 15 years ago, at what is widely considered the beginning of the digital media revolution, these words couldn’t have come close to evoking the farreaching impact digital technologies would have on business and society. Changes in the way the world communicates are happening at break-neck speed. In all industries, communication and media technologies and professionals have become critical for informing, entertaining, and persuading a range of audiences in the private and public sectors. The Harrington School of Communication and Media is on the cutting edge of graduating students who are prepared to become global leaders in the communication and media industry. Now with the completion of the new Harrington Hub for Global Leadership in Communication and Media, a $6.3 million renovation in Ranger Hall, faculty and students have a world-class, high-tech facility to learn and train in, with the right mix of flexible spaces and technologies to allow the School to continue to adapt to the rapidly evolving nature of new media. Adam Roth, director of the Harrington School, says the renovation provides “the right space at the right time.” Adding, “We can now provide students state-of-the-art learning spaces that will allow them to practice their skills with the absolute best equipment available in the newest place on campus.” He also notes the generous contributions of many individuals and corporations, including URI alumnus Richard J. Harrington ’73, for whom the School is named. A portion of Richard and Jean Harrington’s $5 million gift to the School made several years ago was used for constructing the Harrington Hub, as was their more recent $100,000 gift to name one of the Hub’s Active Learning Classrooms. Dozens of other supporters, including Bill Achtmeyer, John King, Tom Cerio, Lori Merolla, Jonathan Herman, Adam Wiener, Kathy O’Donnell, and Bob Vincent, also contributed to the project.
Supporting the next generation Karen Adams grew up in a small farming community in Missouri and became one of the longest serving TV news anchors in Rhode Island, winning two Emmys during her lengthy broadcast career. “I sat on the anchor desk and I had a great life,” she said of her 21 years at WPRI. “I had so much opportunity to see so many things and go so many places. Broadcasting opened up my whole world.” That was her motivation for creating the Karen L. Adams Endowed Scholarship in Communications, which will support a junior or senior female student from Rhode Island with a GPA of 3.0 or higher, who is a student at URI’s Harrington School of Communication and Media. “I had a front row seat to Rhode Island history and I wanted to give back to future generations,” said Adams.
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Supporting sustainability Growing up in Ghana, Evans Arizi, who earned a scholarship to get his Ph.D. in biological and environmental sciences at URI, knew the value of fish to his country. While local fishermen paddled into the waves, international boats reeled in Ghana’s main protein source in unprotected territorial waters. A lack of government investment in sustainable fishing policies has created a wealth of illegal fishing problems. Arizi wants to help change that. To create the next generation of fisheries scientists and leaders in Ghana, the Sustainable Fisheries Management Project is facilitating student exchanges and scholarship opportunities at URI in collaboration with Arizi’s alma mater, University of Cape Coast. “When the opportunity came for me to come here I was so excited,” Arizi says. “I felt that by coming here I would get the necessary materials and resources to be equipped to handle the opposition (to implementing sustainable fishing laws in Ghana).” 12
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Fishing for the future. LARGEST-EVER GRANT TO URI AIMS TO REVITALIZE FISH STOCKS IN AFRICA.
RI is leading the five-year, $24 million Sustainable Fisheries Management Project, which aims to revitalize marine fisheries stocks and improve the fisheries ecosystem and livelihoods of the hundreds of thousands of people who rely on fisheries and related activities. Funded by the U.S. Agency for International Development, or USAID, it is the largest grant ever awarded to the University of Rhode Island. The project is led by the Coastal Resource Center (CRC ) at URI’s Graduate School of Oceanography. CRC is engaged in extensive coastal management and fisheries related projects in the countries of Ghana, Malawi and Senegal. Bolstering the professional development of emerging leaders and incountry practitioners is a critical aspect of the work. Hundreds of people attended a public lecture URI President David M. Dooley gave at the University of Cape Coast in Ghana in April. During his talk, Dooley said his vision upon assuming office as president of URI was to vastly increase globalization of URI and its students because the world we live in is not just interconnected but interdependent and hyper-connected. “The complexity of the modern world includes great challenges, such as climate change, which is beyond one single nation’s ability to solve alone,” he continued. “With these global challenges also come global opportunities. We need to focus more on the opportunities,” he told the audience. The engagement of local universities is part of the Project’s capacity building component, which seeks to strengthen the knowledge and skills of Ghanaian educators, students, and practitioners so they can better manage and sustain the nation’s fisheries sector, which is vital to food security. CRC is hosting seven graduate students from Africa, including Evans Arizi, who are pursuing URI master’s and doctoral degrees in varied fields to ultimately help build the capacity of their own communities to engage in innovative coastal management planning and practice.
â€œWith these global challenges also come global opportunities. We need to focus more on the opportunities.â€?
ANNUAL REPORT FY 2016 y
“The synthetic cadavers are… significantly improving the way students learn about anatomy.”
y THE URI FOUNDATION
Not real. But really close. URI SECOND IN NEW ENGLAND TO ACQUIRE SYNTHETIC CADAVERS.
hey have the look and feel of real bodies although no skin covers the muscles, organs and skeleton. The four new full-size, synthetic human cadavers acquired by URI last spring are stored in water tanks to maintain their life-like texture. Though, at first glance, they might be slightly alarming, they are a huge improvement over the hard plastic models previously used to teach anatomy to undergraduate students. “One of the challenges of studying muscles, nerves, the circulatory system and other aspects of human anatomy is that it’s difficult for students to put everything in context,” said Aura Grandidge, URI’s manager of undergraduate biology labs, who has developed a hands-on curriculum using the cadaver models. “The synthetic cadavers are providing that context and are significantly improving the way students learn about anatomy.” Grandidge noted that they hope to incorporate pathologies like cancer or smoker’s lungs into the cadaver models as well. “We want students to be able to study healthy synthetic cadaver models and compare them with others that have pathologies,” she said. “It will give students a chance to hunt for something unexpected when they’re looking at the cadavers.” URI is the second university in New England to acquire the synthetic human cadavers and the only school in the eastern part of the country with more than one. Manufactured by SynDaver Labs in Tampa, Florida, the synthetic human cadavers include the complete bone structure, muscles, fully articulating joints, a complete respiratory system, digestive tract, circulatory system, urinary tract and reproductive organs. More than 500 URI freshmen enrolled in a course on human anatomy are currently working on the models. In addition to anatomy education, the synthetic cadavers can also be used in medical training, surgical simulations and medical device testing.
Supporting student success Each SynDaver cadaver model costs about $40,000. The purchase at URI was made possible with a private grant award, received from the Champlin Foundations, which was secured with assistance from the URI Foundation’s Office of Corporate and Foundation Relations. The University also contributed funds toward the purchase. “Support from corporate donors and foundations makes a significant and tangible impact on the quality of the academic experience here at URI,” said Katharine Hazard Flynn, Executive Director of the URI Foundation Office of Corporate and Foundation Relations. “Without this form of support, certain hands-on, high-value experiential learning opportunities, like this one, might not otherwise be possible.”
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Supporting sail training opportunities A promoter and patron of URI sailing and a fourth generation yachtsman, Commodore Henry H. Anderson Jr. is founder, chairman, and chairman emeritus of the American Sail Training Association. He’s raced or served as an official in almost every major yachting event in the world. He’s dedicated his life to sailing and created an endowment to help URI Sailing succeed. His wish is for the Henry H. Anderson Jr. Sailing Endowment to reach $1 million, providing a stream of income to support the team for generations. “In the world of givers and takers, Harry is a giver in the extreme,” said Jamie Hilton ’83. “Harry convinced me of his thinking which is that sailing helps develop a tremendous amount of character, as you learn about yourself and about how to create, adapt, and overcome. Harry wants to see young people develop their character and personal confidence through sailing.”
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Christening the fleet. URI’S TOP RANKED SAILING PROGRAM WELCOMES NEW, DONATED BOATS.
he URI Sailing Program, home to one of the country’s top ranked women’s sailing teams, recently welcomed 18 new flying junior dinghies and is on track to replace its full fleet of 38 boats thanks to generous donations from longtime sailing supporters including Commodore Henry H. Anderson Jr., and former URI sailor Jamie Hilton ’83 (pictured). On a picture-perfect autumn day at the URI Sailing Center on Salt Pond in Wakefield, Rhode Island, members of the URI sailing community gathered to christen the latest additions to the URI fleet. In addition to replacing aging boats, funds raised from sailing team alumni and friends will expand the program’s community outreach and support the salary of team head coach Rollin “Skip” Whyte ’72, who has elevated the team’s profile dramatically in the past few years. Approximately 50 URI students participate on the women’s and coed sailing teams, competing against sailing powerhouses like Yale and Boston College. Anderson, 95, first sailed the Newport-to-Bermuda race at age 15, and said he could relate to the URI sailors. “It’s a club sport run by undergraduates and it’s good experiential training,” Anderson said, stressing that students must be dedicated, learn teamwork, be organized, and know how to handle their boats. Whyte hopes the increase in funds and resources will help him recruit additional regional sailing talent. “Certainly, when we’re able to do more things well, that attracts talent to the team and new boats are a great draw,” said Whyte, who spent 17 years as an Olympic coach, leading teams to five Olympic medal performances including gold in 2004. “The biggest recruiting force is the team’s results and the success of the women’s team has been a powerful motivator.” The URI Sailing Center has an active recreational program, serving more than 400 sailors annually through a youth sailing program and opportunities for high school students, adults, and URI students.
“Sailing helps develop a tremendous amount of character, as you learn about yourself and about how to create, adapt,and overcome.”
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“We have classes and homework and activities every day. It’s always with you. That’s a great way to learn the language.’’
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Learning through immersion. UNIQUE LANGUAGE PROGRAM PREPARES STUDENTS HEADING TO CHINA.
heir pins said “Please speak Chinese with me” and the 16 students wearing them had signed a pledge to speak only that language — one they barely knew — for eight weeks on the Kingston Campus this summer. The students, a mix of freshmen and juniors, were part of a residential, immersion program in Chinese held at the University of Rhode Island. As students are preparing to live and work in an increasingly globalized economy, this program is designed to raise the students’ proficiency level from novice to intermediate so they can communicate successfully when they study abroad, as part of their program of study, the following year in China, according to program director and URI Professor of Chinese Wayne He. Students slept in the International Engineering Program’s residence halls on campus and had a rigorous schedule. They rose at 7 a.m. and ate breakfast. Mandarin Chinese language classes ran from 8 a.m. to noon. After lunch, one-on-one tutoring was offered and students participated in cultural activities: kite flying; tea ceremonies; tai chi; Chinese chess; mahjong; and lectures about Chinese history and the economy, among other events. Students were required to study for two to three hours in the evening. “The immersion program was amazing,’’ says Zachary Smith, of North Kingstown, Rhode Island. “They worked us hard, but we learned so much. We were with each other day and night.’’ Though he started the program with just basic understanding, Smith said he can now carry on a seamless conversation in Chinese, and his pronunciation has improved greatly. “You work so hard and then you see the results. We had classes and homework and activities every day. It was always with you. That’s a great way to learn the language.’’ Wayne He believes the program, which incorporates cultural activities, field trips, and oneon-one tutoring, is one of the best in the nation with students gaining a greater appreciation for the language and the culture as they prepare to become professionals in a global world.
Supporting global success In addition to immersion programs offered in several languages, including this one funded, in part, by the Luke Charitable Foundation, 3,600 students take a language class each semester at URI and 600 students are majoring in a foreign language. Several students in the URI Chinese Flagship Immersion Program, including Zachary Smith (pictured above), have also been the recipients of donorfunded scholarships while at URI, including the Hasbro IEP/IBP China Endowment. “We deeply appreciate the generous support of the Luke Charitable Foundation that helped make this phenomenal immersion program possible,” said URI College of Arts and Sciences Dean Winifred Brownell. “Thanks to Luke, the faculty here has done an outstanding job transforming novice learners of Mandarin Chinese into engaged, successful and confident communicators who have learned a great deal about Chinese language and culture.” ANNUAL REPORT FY 2016 y
Supporting a new health system This past summer, Betty Rambur was named Professor and the Routhier Endowed Chair for Practice at URI’s College of Nursing. She came to the University as it launched its new Academic Health Collaborative, a sweeping reorganization of health education and research programs. A fellow of the American Academy of Nursing, Rambur has an expansive vision for re-imagining nursing roles as they pertain to health care delivery and solving vexing problems in society. She believes that all health professionals must become part of the solution to America’s costly health care system and that nurses, as the largest health profession segment, hold a particularly central role. The Routhier Endowed Chair of Practice was established at URI in 2007 through a $500,000 gift from the E.J. and V.M. Routhier Foundation to support a nursing faculty member who would focus on workforce and clinical initiatives. It honors the late Edward and Virginia Routhier. 20
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A collaborative designed for good. URI IS RESHAPING HEALTH EDUCATION AND RESEARCH FOR BETTER OUTCOMES.
ith more students studying some type of health-related field at URI, the challenge became finding a way to connect health care research, teaching and service — across various disciplines — to better provide graduates with the tools to meet the changing health care needs in our communities and beyond. The solution was creating URI’s new Academic Health Collaborative. The new entity brings together programs, across multiple colleges, all focused on human health and wellness. This change supports the notion that when all aspects of the health care sector — doctors, nurses, pharmacists, mental health professionals, hospital administrators, community agencies, home care providers, and many more — work together to improve and coordinate care the result is reduced costs and healthier people. URI Professor and Chair of the Department of Kinesiology Deborah Riebe says, “This initiative will allow our faculty members with expertise in exercise science, diet and nutrition, psychology and human development to conduct research and outreach programs with our pharmacy and nursing programs to help people eat better, exercise more, and take care of their emotional and social health. When care is coordinated and addresses the entire individual, people are healthier and in the end the entire health system becomes more efficient.” The launch of the Collaborative also resulted in the creation of a new College of Health Sciences at URI as well as an Institute for Integrated Health and Innovation. Nursing and pharmacy join health sciences as the three colleges falling under the auspices of the Collaborative. A number of programs and majors at URI were also realigned with new colleges as a result of this change. “After 46 years at the University of Rhode Island, we are welcoming the biggest transformation in higher education related to the biggest transformation in health care. It’s terrific for higher education. It’s terrific for our students because it eliminates the silos in health care,” said James O. Prochaska, URI Cancer Prevention Research Center director. To learn more about URI’s Academic Health Collaborative, visit web.uri.edu/ahc.
â€œAfter 46 years at the University of Rhode Island, we are welcoming the biggest transformation in higher education related to the biggest transformation in health care.
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URIâ€™s program currently boasts nearly 100 percent student placement upon graduation.
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Supplying success. URI SUPPLY CHAIN MANAGEMENT PROGRAM EARNS TOP TEN RANKING.
upply chain management encompasses the flow of products from point A to point B, from acquiring source materials to delivering a finished product, and every step in between. Product management is so essential in today’s global business environment that people speak about competition between supply chains rather than between companies. Career opportunities in this field are enormous and will continue to grow in virtually every industry sector. URI’s Supply Chain Management Program at the College of Business Administration is at the forefront of providing students in this burgeoning field with opportunity. Recently ranked 9th in the country by the Institute of Supply Chain Management, URI’s program currently boasts nearly 100 percent student placement upon graduation and is well known for the capturing the attention of companies across the nation who come to URI specifically to recruit its students. “Supply chain management professionals in general rank 11th for highest lifetime earnings of the 83 university majors tracked in the Lifetime Earnings Report (2014), the highest among all business disciplines. This provides career opportunities to students that are rare for new graduates,” said Douglas Hales, URI Professor of Operations and Supply Chain Management and Supply Chain Management Area Coordinator. According to Hales, URI’s program began in 2005, and had its first graduates, a total of seven, in 2007. By the fall of 2016, the program had grown to almost 200 students. He credits much of the success of URI’s program to the faculty, who are among the most research productive in business. They have dedicated their research and careers to expand the field of knowledge and practice of supply chain management, and deliver an intensive analytical curriculum while accelerateing diverse experiential learning opportunities, including internships, for their students.
Supporting talent for the supply chain Supply chain major Timi Wallace, 20, had spent every summer in his hometown of Providence until this past summer when he went to Wisconsin to intern with national manufacturing giant Georgia-Pacific. A first generation college student raised by his grandmother, Timi soaked it all up: “I learned a lot; they throw you right in!” he recalled. The recipient of several private scholarships at URI, including the Hedison Family Scholarship, the American Screw Company Foundation Scholarship, and the Vethanayaki and Professor Seetharama L. Narasimhan Business Scholarship, Wallace is extremely grateful for the support of donors. He is also grateful he chose a major that will, most likely, provide him with immediate employment after he graduates, next December. He returns to his urban high school often, where he encourages students to consider higher education. “I want to do what I can to show others the benefits of going to college,” he says. ANNUAL REPORT FY 2016 y
RHODE ISLAND NURSING CENTER SET TO OPEN IN PROVIDENCE Providence’s abandoned South Street Power Station will soon become a new, state-of-the-art Nursing Education Center for students of both the University of Rhode Island and Rhode Island College. Located in the heart of the state’s hospital district, the Center also includes administrative offices for Brown University, creating a unique public/private higher education partnership. The 133,000 square-foot facility will be completed this spring, in advance of student use, slated for September 2017.
RECORD NUMBER OF UNDERGRADUATE APPLICATIONS FOR ADMITTANCE FALL OF 2016
NUMBER OF URI STUDENTS STUDYING ABROAD LAST YEAR, IN MORE THAN 56 COUNTRIES
2,060 NUMBER OF STUDENT HOURS OF RESEARCH CONDUCTED ABOARD THE RESEARCH VESSEL ENDEAVOR
MEN’S BASKETBALL MAKES PRE-SEASON TOP 25 RANKINGS Virtually every national preseason poll places URI men’s basketball in the top 25 for the upcoming 2016–2017 season. CBS Sports, NBC Sports, ESPN, Sports Illustrated and the Blue Ribbon College Basketball Yearbook all rank the Rams among the top 25 programs in America. “There’s a lot of buzz, which is good,” said head coach Dan Hurley, “but we’re process-oriented. We will stay in the present. We have five starters back and a really good group of guards. Anytime you return as many players as we do, we know the expectations are going to be really high.”
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SOTOMAYOR DELIVERS COMMENCEMENT ADDRESS “The ‘ah-ha’ moment is the first time you gained an insight about yourself or the world around you. The ‘uh-oh’ memories are where you ask yourself, ‘What have I done now?’ The ‘uh-oh’ moments are worth cherishing just as much as ‘ah-ha’ moments: Mistakes, failures, embarrassments and disappointments are a necessary component of growing wise,” said the Honorable Sonia Sotomayor, Associate Justice of the Supreme Court of the United States, addressing URI’s Class of 2016 at commencement in May.
NUMBER OF STUDENTS RECEIVING FOUNDATION SCHOLARSHIPS IN FY 16
COASTAL CAMPUS RANKING FOR MOST BEAUTIFUL COASTAL CAMPUSES
NUMBER OF RHODY PHONATHON CONVERSATIONS WITH ALUMNI AND PARENTS
URI STUDENT WINS FULBRIGHT AWARD URI student Brandon Lovejoy ’19 of Colorado received a Fulbright Summer Institute Award to study at Shakespeare’s Globe Theater in London. Each year, the Fulbright Commission supports about 60 undergraduate students to undertake a demanding academic and cultural summer program at leading institutions in the United States and United Kingdom respectively. A public relations and theater major, Lovejoy spent three weeks this summer at the world-famous theater, a reconstruction of the open-air theater, originally built in 1599, where Shakespeare worked and wrote many of his greatest plays.
ANNUAL REPORT FY 2016 y
STUDY-ABROAD STUDENTS EXPERIENCE CUBA Following President Obama’s official visit in March, the travel doors to Cuba opened with the first flights by an American airline in more than five decades to the previously banned country. Twenty-six study-abroad students experienced the history, culture, and politics of the island nation in the past academic year alone. Studying economic development and culture, they attended lectures by artists and historians, and visited tobacco plantations and other culturally significant sites.
TOTAL NUMBER OF DONORS WHO CONTRIBUTED TO THE UNIVERSITY OF RHODE ISLAND IN FY 16
NUMBER OF ONLINE GIFT TRANSACTIONS PROCESSED BY THE FOUNDATION
NUMBER OF GIFTS TO THE UNIVERSITY OF RHODE ISLAND THAT WERE MATCHED BY AN EMPLOYER
TAKING THE STAGE AT THE NEWPORT JAZZ FESTIVAL The URI Big Band made its fourth consecutive appearance at the world-renowned Newport Jazz Festival, where stars like Louis Armstrong, Frank Sinatra, Tony Bennett, and Etta James once performed. The student musicians graced the stage at the summer performance, under director Jared Sims, and performed a 45-minute set before the crowd of 10,000 spectators. “This invitation to perform puts our jazz studies program on the map as one of the best in the country — maybe the best,” says Sims.
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URI HELPS RECOVER “BLACK BOX” FROM SUNKEN SHIP EL FARO When the cargo ship El Faro and its 33 crew members were lost at sea off the Bahamas, the National Transportation and Safety Board (NTSB) investigators trying to recover the ship’s “black box” turned to URI. The internationally-acclaimed Inner Space Center at GSO provided telepresence technology and expertise to assist with the search, which resulted in the eventual recovery of the box. “Finding an object about the size of a basketball almost three miles under the surface of the sea is a remarkable achievement,” said NTSB Chairman Christopher A. Hart.
VALUE OF THE UNIVERSITY OF RHODE ISLAND ENDOWMENT AS OF JUNE 30, 2016
OVERALL FINANCIAL NEED FOR UNIVERSITY OF RHODE ISLAND UNDERGRADUATE STUDENTS
TOTAL OVERALL UNMET NEED FOR UNIVERSITY OF RHODE ISLAND UNDERGRADUATE STUDENTS
CONGRESS MAKES IRA ROLLOVER PERMANENT On December 18, 2015, Congress passed a permanent tax provision, later signed into law, allowing IRA owners age 70-1/2 or older to make a direct, tax-free transfer of up to $100,000 a year from their individual retirement account to a public charity. A number of URI supporters and donors have already taken advantage, designating their IRA rollover gifts for uses that may include satisfying multi-year pledges to the URI Annual Fund, creating or adding to endowments, or supporting other charitable purposes at URI. Visit uri.planmygift.org/ira-charitable-rollover for the fine print.
ANNUAL REPORT FY 2016 y
Annual Report on Giving: President’s Circle Donors
e gratefully and sincerely acknowledge our honor-roll donors — members of the President’s Circle, who made generous gifts of $10,000 or more to the University of Rhode Island in the last fiscal year ending June 30, 2016. We are most grateful for your generosity, which is making a significant impact across the URI community. For a complete listing of more of our valued donors who supported URI in FY 2016, please visit www.urifoundation.org/donors2016. President’s Circle Platinum: $100,000 and above
President’s Circle Gold: $50,000 to $99,999
President’s Circle Silver: $25,000 to $49,999
Henry H. Anderson Jr. Richard E. Beaupre ’62 Barbara P. Bowen ’67 Anthony Diaco William H. Eigen III ’90 Jonathan Fain Rosalie Fain* Diane C. Fannon ’74 S. Kent Fannon ’74 Barry M. Gertz ’76 Sandra J. Gertz ’86 Carolyn A. Rafaelian ’89 Cathy H. Ryan Thomas M. Ryan ’75 Francis J. Schilling Helen I. Schilling ’54
Andrew H. Aitken ’67 Estate of Mary K. Bond ’43 Margo L. Cook ’86 Eleanor H. Dain ’86 Joel A. Dain Steven E. Elterich ’72 Elizabeth C. Fascitelli Michael D. Fascitelli ’78 Richard J. Harrington ’73 Kenneth J. Hylander ’80 Virginia F. Hylander ’78 Claire L. Perlman ’73 Marc S. Perlman ’69 Anthony J. Rose Jr. ’54* Henry D. Sharpe Jr. Peggy B. Sharpe Stefan Soloviev ’97 Joan H. Virgadamo ’66 Philip P. Virgadamo ’64
Robert J. Alvine ’88 Geraldine M. Barber ’70 Gregory P. Barber Gussie W. Baxt Kenneth A. Bradley ’81 Dianne K. Card ’69 Wesley R. Card ’70 Kathleen M. Castro ’88 Thomas D. Cerio III ’76 Shannon E. Chandley ’83 Mark P. Charron ’77 Helen F. Dayton ’47 Zhongli Duan David A. Duffy Victor J. Farmer ’64 Howard S. Frank ’62 Mary Frank Joseph R. Graf ’88 Linda Graf ’88 Estate of Cynthia F. Grinnell ’58* Ruth M. Hall
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Jonathan C. Herman ’99 Brian K. Hewitt ’91 James A. Hilton Sr. ’83 Stephen Jonas ’64 Heidi Kirk Duffy Louis J. Kirschenbaum Susan S. Kirschenbaum ’76 Karl M. Knauss ’86 William A. Knauss Francis Knight ’50 John J. Murray III ’70 Michael R. Pfeiffer ’82 Nancy R. Pfeiffer ’83 Donna R. Ross ’02 Mark A. Ross ’64 Cynthia D. Sculco ’65 Thomas P. Sculco Estate of Mary H. Sherry* Thomas J. Silvia ’83 Barbara S. Somers ’99 Alan R. Spachman ’69 Florence M. Spachman Pamela M. Thye Estate of Mary L. Ucci*
Richard G. Vangermeersch ’64 Estate of Laura A. Webb* David P. Whalley ’77 Claire Wilcox Gregory Wilcox Bret D. Williams ’93 President’s Circle Bronze: $10,000 to $24,999 Bill Achtmeyer Karen Adams Joseph F. Army ’86 Kimberly D. Army Lauren Baker-Hart ’81 Banice C. Bazar ’51 Beverly Bazar Karen E. Blakeley ’83 Robert B. Blakeley ’82 Thomas P. Blaszkowski ’69 Arthur S. Bobrow ’64 Sandra S. Bobrow ’66 Joan G. Bonomi ’69 Richard J. Bonomi
Richard J. Bornstein ’71 Sandra Bornstein Michael F. Brandmeier David J. Buckanavage ’80 Jeffrey R. Cammans Frank Caruso ’76 Donald L. Champagne ’66 Mabel Champagne Doreen Clappin James P. Clappin ’80 Margaret D. Clark ’71 Noah G. Clark ’72 Karen S. Cofoni Paul M. Cofoni ’70 Barclay P. Collins ’78 Robert L. Considine ’60 Douglas E. Cote ’82 Jennifer L. Cote Mark S. Cruise ’81 Susan K. Cruise ’84 William J. Cummings ’71 Steve N. DeJong Donna K. Drago Joseph Drago III Thomas J. Drury ’74 Alfredo R. Esparza Diana R. Esparza Thomas Y. Exley William J. Falk Jennifer A. Francis Linda A. Gilheeney Jillian L. Giornelli Raymond A. Giornelli ’56
Edward Golden Stephen M. Greenlee ’82 Shirley T. Gulvin ’57 Janet Harford Jay W. Harford ’61 Jay C. Hart ’82 Paul J. Hastings ’84 Amy R. Haughey ’85 Kevin Haughey Marianne Holmes ’75 Russell D. Ide ’70 Caroline T. Kaull ’66 Donald N. Kaull ’67 Kenneth E. Knox ’70 Harold A. Koussa ’69 Jann E. Leeming ’77 Wesley C. Lessard ’02 Leonard Levin Linda L. Levin Arthur D. Little A. Robert Lusi ’61 Carol C. Lusi ’61 Lois V. Mason ’62 Edmund M. Mauro Jr. Nancy McKinstry ’80 Michael F. McNally ’81 Michele G. McNally ’77 Estate of Marsha G. Metcalf ’85* Terry A. Meyer Michael F. Peterson ’93 John V. Priore ’87 Shiela I. Priore Elaine M. Riley ’68
James E. Riley ’66* John C. Rinaldi ’91 Victor R. Santoro Robert E. Saute ’50 Richard J. Shapiro Henry D. Sharpe III Julia R. Sharpe Jocelyn M. Sherman ’00 Peter H. Sherman Jr. ’97 Franklin W. Simon ’50 Albert Z. Soforenko ’54 Beatriz D. Struck John S. Struck ’74 Diane Sullivan Stephen J. Sullivan Sr. Helen S. Szymkowicz Thomas A. Szymkowicz ’43 Haig C. Tapalian ’61 Bernard J. Teubert Jr. ’60 Nancy A. Tucker ’81 Thomas A. Turano ’71 H. Roger Vennewald Josephine Vennewald Paul Verbinnen John H. Visneuski Jr. ’70 John Wardle ’78 Lynn V. Wardle ’91 Charles H. Wharton ’67 Joy H. Wharton ’74 Eleanore M. Wood Alan G. Zartarian ’69 David G. Zartarian ’67 Marilyn C. Zartarian ’70 ANNUAL REPORT FY 2016 y
Board of Directors UNIVERSITY OF RHODE ISLAND FOUNDATION
Chairman of the Board: Thomas M. Ryan ’75
Lorne A. Adrain ’76 Michael Brandmeier Thomas D. Cerio ’76 Senator Paul V. Jabour ’78 Phillip Kydd ’81 Carol J. Makovich ’75 Rusty Rueff Raymond M. Williams ’87 Richard E. Beaupre ’62 David Buckanavage ’80 Frederick J. Newton, III ’78 Diane Sullivan Joseph E. O’Neil ’75 Cynthia Davis Sculco ’65 Margaret Leinen ’80 Robert K. Vincent ’75
Vice Chairs: Paul M. Cofoni ’70 Margo L. Cook ’86 Alfred J. Verrecchia ’67 Treasurer & Finance Committee Chair: Mark P. Charron ’77 Secretary: Wendy P. Field ’74 Investment Committee Chair: Deborah Imondi ’83 Governance Committee Chair: Laurie White ’81 Development Committee Chair: Michael D. Fascitelli ’78
Audit Committee Chair: Thomas J. Silvia ’83
William Foulkes, Chair, Council on Post Secondary Education, Rhode Island Board of Education
At-Large Members: Geraldine M. Barber ’70 Charles H. Wharton ’67
David M. Dooley, Ph.D., President, University of Rhode Island Susan R. Johnson ’82, President, URI Alumni Association Executive Board
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Trustees UNIVERSITY OF RHODE ISLAND FOUNDATION
Lisa Ahart ’03 Linda A. Anderson Banice Carl Bazar ’51 George J. Bedard ’78 Bradford Reed Boss ’55 Roswell S. Bosworth, Jr. ’49 Edward W. Bouclin, Jr. John J. Brough, Jr. ’78 Gustin L. Buonaiuto ’53 Jeffrey R. Cammans Scott A. Campbell ’77 Anna Cano-Morales ’91 Wesley R. Card ’70 Mary F. Carmody ’82 Frank Nicholas Caruso ’67 Thomas M. Cataldo ’71 Thomas D. Cerio, III ’76 Shannon E. Chandley ’83 Edmund D. Cianciarulo, Jr. ’64 Joseph M. Confessore ’96 Robert Lee Considine ’60 William Croasdale, III ’58 Laura H. Cunningham ’77 Stephen M. Cunningham ’76 Marie Campopiano DiBiasio ’61 Dennis J. Duffy ’80 Kathleen Yanity Duffy ’80 Mary S. Eddy ’87
Karina Montilla Edmonds ’92 William H. Eigen, III ’90 Esther Emard ’82 Alan Shawn Feinstein Giovanni Feroce ’91 Joseph G. Formicola, Jr. ’69 James C. Forte ’76 Barry Gertz ’76 George Graboys ’92 Mary A. Gray ’52 William R. Guglietta ’82 Audrey Barker Hallberg ’61 Richard J. Harrington ’73 Alan G. Hassenfeld Manoog T. Heditsian ’47 Mary Danielian Higgins ’67 Robert Joseph Higgins ’67 Ann Stephenson Hitchen ’88 James E. Hitchen, Jr. ’65 Andrea M. Hopkins ’68 James A. Hopkins ’62 Saul Kaplan ’79 Caroline Tennant Kaull ’66 Donald N. Kaull ’67 Kenneth N. Kermes Heidi Kirk Duffy Kenneth E. Knox ’70
Peter F. Kohlsaat ’57 David B. Lea, Jr. ’59 Margaret S. Leinen ’80 Matthew J. Leonard ’88 James William Leslie ’52 Raymond G. Lundgren, Jr. ’54 Armando F. Lusi ’47 Mary P. Lyons ’67 Molly Magee ’91 Leo Mainelli ’58 Carol J. Makovich ’75 David Martirano ’91 Raymond G. Mathieu ’69 Sandy S. McCreight ’73 Michael F. McNally ’81 Peter J. Miniati, III ’85 Charles E. Morris, Jr. ’55 Francesco Peter Morsilli ’53 Blanche Richard Murray ’41 Henry J. Nardone, Sr. ’43 Nathaniel J. Nazareth, Sr. ’55 Michael A. Nula ’96 Jack M. Parente ’85 Louise R. Pearson Constantinos Perdikakis ’75 Robert J. Petisi ’74 Yahaira Placencia ’01
H. Douglas Randall, III ’72 Perry A. Raso ’06 H. Milton Read, Jr. ’54 Edgar Allan Reed ’56 Richard D. Rendine ’58 Eric D. Roiter ’70 Mark A. Ross ’64 Edmund Stanley Rumowicz ’57 Robert S. Russell ’75 Vincent Anthony Sarni ’49 Col. (Ret) Philip J. Saulnier ’62 Richard A. Soderberg ’49 Charles S. Soloveitzik ’72 Ann M. Spruill ’76 Jane M. Stich ’62 John S. Struck ’74 Donald P. Sullivan ’71 Norman G. Tashash ’77 Louise H. Thorson ’85 Robert K. Vincent ’75 Alan H. Wasserman ’75 Robert A. Weygand ’71 Greg S. Whitehead ’78 Raymond M. Williams ’87 Marybeth Williamson ’83 Christopher Wolfe ’91 Alan G. Zartarian ’69
ANNUAL REPORT FY 2016 y
The URI Endowment
ASSET ALLOCATION AS OF JUNE 30, 2016
INVESTING IN OUR LONG-TERM SUCCESS
he University’s endowment provides a dependable and perpetual source of funding to support URI students, faculty, programs and facilities. Together, as a pool, the 1,000plus individual endowed funds are invested as part of a long-term investment strategy designed to achieve a rate of return which will generate a current source of income to support our donor’s causes, and preserve and enhance the principal value of the endowment. The URI Foundation Board of Directors sets a spending rate each year, which is dependent on a number of factors including principal growth and market performance. Payouts calculated for the fiscal year 2016 were based on a rate of 4.8 percent of the three-year average market value of the portfolio. This rate included the amount distributed to the University (increased to 3.5 percent) and the Foundation’s management fee (held at 1.3 percent) with the goal of increasing the impact of endowment-derived gifts on the University. This spending rate calculation resulted in a distribution of $3.7 million for the fiscal year 2016, which was an increase over the previous year. As of June 30, 2016, the University’s endowment portfolio had a market value of $107.7 million. Like most endowments across the country, URI’s endowment fund declined in value, due to global volatility and overall negative performance across capital markets and asset classes. The Foundation Board of Directors, in concert with its Investment Committee, including committee chair Deborah Imondi (Economics ’83 and MBA ’86), is working diligently to enhance the management of the fund to maximize returns while maintaining appropriate risk and liquidity parameters. The market value for the endowment for each of the past five years is represented on the facing page.
0.8% PRIVATE EQUITY/ VENTURE CAPITAL
26.6% US EQUITY
1.8% CASH AND EQUIVALENT
8.2% REAL ASSETS
9.9% EMERGING MARKETS
13.5% GLOBAL EQUITY
Please note that a full listing of all endowment funds can be accessed on our website at www.urifoundation.org/ endowmentfunds.
As is customary with many universities across the country, a one-time fee is deducted from all gifts to provide essential support to the University’s overall development activities. That fee is currently five percent. Donors are credited the full amount of their gift. 32
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ANNUAL ENDOWMENT PAYOUT IMPACT
As of June 30, 2016, the University of Rhode Island’s endowment portfolio had a market value of $107.7 million. The market value for the for each of the past five years is represented below.
The following graph represents the total amount of endowment-generated funds distributed to the University each year, based on the Foundation’s spending policy, for the five-year period shown.
ANNUALIZED RETURN ON INVESTMENT
The annualized return on URI’s endowment portfolio, as of June 30, 2016, was –5.0%. The returns for the past five years, using the June 30 date for comparison, are as shown below.
Total Assets represented on this chart includes the value of cash, investments (including the endowment portfolio), furniture, equipment, receivables and other items of value.
INCREASE/DECREASE AS OF JUNE 30
A message from Deborah Imondi ’83, ’86 INVESTMENT COMMITTEE CHAIR
As the newly appointed Chair of the Investment Committee, I am honored and excited to serve my alma mater in this capacity. I have the privilege of working with a committee of committed and engaged alumni and others who bring their considerable knowledge, expertise and experience to bear on the prudent management of our endowment. Together, we have embarked on a new and exciting initiative, “Thinking Bigger” about the management of our investments. We thank our generous donors for their contributions to this great University and pledge to provide careful stewardship of our assets and manage your generous gifts wisely.
ANNUAL REPORT FY 2016 y
uring the FY 2016, $16 million in private support was raised, including pledges, gifts and new planned giving commitments. Generous gifts from alumni, organizations, parents, and friends in FY 2016 contributed to gifts being raised that impacted all of URI’s colleges and major program areas, including athletics, the Fund for URI, the President’s 21st Century Fund for Excellence, club sports, Greek life and more. Students, faculty, programs and facilities across our campuses benefitted from that charitable support which contributed to enhancing the overall academic experience here at URI. In all, over 13,436 alumni and friends contributed to URI during the fiscal year, an increase over the previous year of nearly 4 percent. Approximately 35 percent of all gifts received were from alumni while friends of the university, including corporations, foundations, parents of current and former students, faculty and staff, and other donor groups also generously supported the University of Rhode Island. First time donors to URI totaled 2,821 — a 13.5 percent increase over last year. New donors are a very important segment of donors that will continue to be a priority as the Foundation works to increase participation from all donors, with a specific focus on new alumni donors. Annual Fund gifts, another important marker of engagement and potential growth, increased by 5 percent in the last fiscal year, to $1.6 million. And, matching gifts to URI were recorded at 424 in FY 2016. The dollars received as matching gifts totaled $257,803.
14.8% NEW PLANNED GIFTS
31.2% NEW PLEDGES
GENERAL GIFT ALLOCATION
L ALUMNI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35.1%
L OPERATING GIFTS. . . . . . . . . . . . . . . . . . . . . . . .
L CORPORATIONS. . . . . . . . . . . . . . . . . . . . . . . . . . 15.7%
L CAPITAL IMPROVEMENTS. . . . . . . . . . . . . . . . .
10.9% FRIENDS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.8% OTHER. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.8%
L PARENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L L
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AMOUNT RECEIVED, BY CATEGORY L FOUNDATIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . 21.7%
FISCAL YEAR 2016 NEW COMMITMENTS:
L ENDOWED GIFTS . . . . . . . . . . . . . . . . . . . . . . . . 29.4%
L ANNUAL GIVING. . . . . . . . . . . . . . . . . . . . . . . . . . . 10.1% L ATHLETICS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.1%
FINANCIAL REPORT z UNIVERSITY OF RHODE ISLAND FOUNDATION
For the year ended June 30, 2016, with comparative totals from 2015 CONSOLIDATED STATEMENTS OF ACTIVITIES Revenues, gains and other support Contributions Net total investment returns Contractual payments from URI Other income Total revenues, gains and other support
2015 $21,997,724 (523,622) 3,431,635 656,677
2016 $13,767,592 (5,781,470) 3,410,924 791,959
Expenses University support Academic support Athletics and club sports Buildings and equipment Library Community outreach Research support Scholarships, fellowships, loans and awards Other programs and event support Alumni Association
2015 2016 $3,460,910 1,682,383 1,723,941 99,052 1,391,361 928,768 1,909,054 664,459 519,256
$3,763,834 2,021,198 3,274,211 75,334 1,303,909 559,208 2,160,958 500,067 545,218
Total University support
Foundation support Administrative expenses Development expenses
Total Foundation support
STATEMENT OF FINANCIAL POSITION Assets 2015 Cash and cash equivalents $11,327,507 Accounts receivable 26,664 Prepaid expenses 41,142 Pledges receivable, net 21,946,969 Notes receivable - Investments, at market value 134,267,502 Building, equipment, furniture and fixtures, net 1,934,959 Charitable remainder unitrusts 402,242 Advance to URI 1,765,375 Total assets
$171,712,360 $165,441,984 2015
$408,731 â€” 673,693
807,084 1,491,315 669,803
Net assets Unrestricted Temporarily restricted Permanently restricted
$7,809,575 78,569,398 84,250,963
$7,291,962 67,918,279 87,263,541
Total net assets
Total liabilities and net assets
Changes in net assets Net assets, beginning of year
Net assets, end of year
LIABILITIES AND NET ASSETS Liabilities Accounts payable and accrued expenses Other liability Gift annuity payable
2016 $11,330,317 189,214 111,647 19,955,614 40,963 131,585,355 1,859,121 369,753 -
$170,629,936 $162,473,782 ANNUAL REPORT FY 2016 y
Ways to Give to URI MAKE A DIFFERENCE TO THE UNIVERSITY OF RHODE ISLAND
s your generosity benefits others, it can benefit you as well. Depending upon your individual situation, you may receive a charitable income tax deduction and eliminate or reduce capital gains taxes by making a gift to the University of Rhode Island. In addition to outright gifts of cash, securities or other property, the gift pledge option allows you to make a gift over a period of time (generally up to five years). Endowed gifts, which can be funded outright by a pledge or through a planned gift, enable you to make an impact over generations, as only a portion of the earnings on your gift will be spent each year to fund the purpose of your choice. Matching gifts are a simple way to double or even triple your gift impact, and memorial gifts are a great way to honor a professor or loved one. And, for alumni and friends 70½ or older, the IRA Rollover provision, which became permanent in December 2015, allows you to make a direct transfer of up to $100,000 per year from your individual retirement account to a charity of your choosing — tax free. Planned gifts, including bequests, could help maximize your giving potential. Certain planned gift vehicles could also provide you with a secure lifetime income. We invite you to consider becoming a member of the University’s legacy society, the 1892 Society, by making a provision for URI in your estate plans. Whether made through a bequest, retirement or life insurance assets, or gift annuity or charitable remainder trusts, your planned gift makes you eligible to join a group of very special donors who have committed to supporting URI in this way. For assistance, please call the URI Foundation at 401.874.7900 or send an email to email@example.com.
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Our mission: The URI Foundation exists to inspire and steward philanthropic support benefiting the University of Rhode Island. We are grateful to the thousands of individuals and organizations who help support a community of excellence, diversity and innovation.
NONPROFIT ORG. US POSTAGE
PAID 79 UPPER COLLEGE ROAD, KINGSTON, RI 02881-2023
www.urifoundation.org firstname.lastname@example.org 401.874.7900 | 877.874.4555 fax 401.874.5524 HOW TO GIVE: All gifts to the University of Rhode Island should be made payable and mailed to the URI Foundation, P.O. Box 1700, Kingston, RI 02881, or make your online gift at www.urifoundation.org/giveonline.
ANNUAL REPORT CREDITS: Managing Editor: Tracey A. Manni | Editor: Ericka Tavares ’88 Contributing Photographers: Joe Giblin, Nora Lewis, Michael Salerno, Jesse Burke, Julia Lawson ’18, Patricia Mensah
PROVIDENCE, RI PERMIT NO. 3091